Page 19 - OCEAN BLUE - FALL 2016

+++MONEY ++ MONEY ++ MONEY+++
T he tangible effects
of Mexico’s growing
middle class are
reflected in recent
pro-business regulatory reforms, as
well as the recent investments the
government has made in energy and
telecommunications. Since 2013, the
Mexican government has opened up
the petroleum industry to private
sector participation and has allowed
for competition in electric power
generation.
It has also raised the cap for Foreign
Direct Investment in telecom and
broadcast sectors to 100% and 49.0%
respectively. This brings with it the
opportunity to tap into one of the
most underserved mobile commerce
markets in Latin America, unleashing
an estimated US $5.5 billion market
by 2019. According to Euromonitor
International, this makes Mexico “one
of the brightest telecom landscapes in
Latin America, with its large, youthful
and expanding population hungry for
web-based luxury products.”
The future prosperity of Mexico is
literally in the hands of this mobile-
savvy generation, not just as a driver of brought with it a higher standard of
luxury goods, but as a crucial force that living for all who live and work here,
will foster the country’s potential in
every regard – and most importantly
– by continuing the demand for
strengthening the rule of law. The
influence of Mexico’s growing middle
class will be formidable. In 2015,
it totaled 14.6 million households.
Another 3.8 million households will
join its ranks by 2030.
Already, the influence of the middle
class is being felt. Luxury Society
reports that Mexican consumers are
“reassessing their values and priorities
and are more focused on getting the
most out of life, with a clear desire for
authenticity and well-being.” These are
values that are in perfect alignment
with the communities of Los Cabos,
and what we at Ocean Blue celebrate
with our magazine.
To us, luxury goods are a source of
great joy and beauty – a testament
to the heights of human ingenuity,
creativity and achievement. As an
industry, the demand for luxury goods
often brings with it the instruments of
positive social and political change.
This is why the forecast of a strong
luxury goods market in Mexico is
good news for all of us in Los Cabos.
There is perhaps no better example
of how prosperity and well-being
can transform a region than the
communities in Los Cabos. The
evolution from a remote fishing village
to a world-class resort destination has
along with the promise of continued
prosperity and the lifestyle we have
grown to cherish on the Baja Peninsula.
Dieter Esch
Chairman
WWW.OCEANBLUEMAGAZINE.COM 19